SBS to expand its presence in the Pension Fund Accounting and F&A back office services
London, UK -- (SBWIRE) -- 08/14/2015 -- Having completed ten successful years in Australia, Sundaram Business Services Ltd (SBS), the BPO subsidiary of Sundaram Finance Ltd, is looking to more than double its revenue from the Australian market over the next three years.
Over a decade of BPO business in Australia
The company, which recently won the Australian Customer Service Institute's International Service Excellence Award for mid-sized companies, was one of the earliest BPO companies to venture into the Australian market. Around 400 people service the Australian market, from their facility in Chennai.
Over the last decade, the company has established a strong customer base, offering back office services for accounting firms, portfolio management services companies, self-managed superannuation funds and mortgage companies. In the last few years, the company has expanded its services to offer Finance &Accounting (F&A) back office services for mid-sized companies in Australia. Additionally, this year, the company started back office services to generate statements of advice for financial planners.
The company which has over 50 clients in Australia is looking to add 7-8clients over the next 12months.
New BPO deals
The company recently signed up BPO deals for back office work from a Melbourne based accounting firm and a Brisbane based Mortgage Company.
At recent gala dinners, held in Melbourne and Sydney, celebrating 10 years in Australia, TT Srinivasaraghavan, MD, Sundaram Finance Ltd said, 'SBS has established a strong presence in Australia over the last 10 years. Australia continues to be a growth market for SBS. Their focus will be to help existing customers grow through greater efficiencies and a wider product offering. Simultaneously, SBS will be looking to deepen its presence in new verticals.
As part of its expansion plans, SBS is also looking to grow its presence in pension fund accounting and F&A services over the next year.
On growth opportunities in Australia, Rajesh Venkat, CEO, Sundaram Business Services, said, "The Self Managed Super Annuation Funds (SMSF) segment in Australia makes up the largest proportion of superannuation assets and is growing at a healthy pace of close to 10% year on year. SBS, which is the largest offshore service provider in this segment, is looking to strengthen its presence in this space. We are constantly upgrading our expertise. Aside from BPO services, we now provide process improvement consulting services to our clients.
SBS has BPO facilities in Chennai and Mumbai employing close to 1200 people, including for clients in India and other markets.
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